Alloheim Senioren-Residenzen Group ("Alloheim") has acquired 100% of the share capital of the GBS Group ("GBS"). GBS is a private nursing home group, operating 23 nursing homes with 2,301 nursing beds plus 439 beds in assisted living across Germany. A further two homes are currently under construction and are expected to be operational by 2012 (totalling another 249 beds).

The German nursing home market is highly-fragmented with the top 10 companies operating only c. 12% of the beds in the sector. Post acquisition, Alloheim will be the 8th largest private German nursing home operator with 48 homes and 5,896 beds (including those under construction and 715 beds in assisted living).

“We are delighted to be adding GBS to our group. The homes are very modern, purpose-built facilities with care quality often top-ranked in their respective districts. With such qualities, these homes will be an excellent fit with our current portfolio.”

Rainer Hohmann

CEO of Alloheim

“Since the initial platform acquisition, we have grown the business from 13 to 48 homes. Margins have improved year on year and quality levels have remained high. We are pleased to be investing further capital into the business for this acquisition and look forward to working with management to integrate it into the group.”

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